MF Global Employee Indicated Corzine Knew Loans Were Made From Customer Accounts

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Uploaded by on Dec 13, 2011

During Senate Hearing, MF Global Employee Terry Duffy says that Corzine knew loans were made from customer accounts (December 13, 2011)

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  • @Dactuck Corzine says $1.3 billion in Euro sovereign debt was purchased with client funds and that upon sale the proceeds should have been put back in client accounts. It may be that JP Morgan got the sale proceeds. Peak Oil is the reason for the economic collapse. US East Coast refining capacity will be almost halved by 7.2012 on top of a 495k bpd (1 of 10 world's largest refineries) in St Croix closed or being closed.

  • @staywithtruth Great point. But which MF Global investment lost money? Which European nation has defaulted on their sovereign debt? And these investments, as you stated have contingencies. One of them are, that you cannot invest US dollar denominated funds, in a foreign currency. That precludes any investment in European sovereign debt. Was the money lost, or stolen?

  • @staywithtruth These guys are the scum of of the earth (like GS, JPM) with CFTC Gary Gensler jew-boy gatekeeper and protector of criminal frauds.

  • CFTC Rule 1.25 it is legal for FCM (futures commission merchant) and for derivative clearing organizations to invest client segregated funds. The investment is limited to the "permitted investments" stated in Rule 1.25.

  • We need to put a leash on Wall Street.

    Dodd-Frank was weaksauce IMHO. Shut it down if we have to.

  • Terry Duffy is not an MF Global Employee he is the CME (Chicago Mercantile Exchange) Group's Executive Chairman. CME Group owns and operates large derivatives and futures exchanges in Chicago and New York City, as well as online trading platforms. It also owns the Dow Jones stock and financial indexes. He is testifying about information given to him by MF Global employees, and the CME investigation.

  • I like how all the racist right-wing tools (redundant) like Ann Barnhardt are blaming runaway capitalism and corporate greed at any cost on socialism/Marxism.

    Corzine and Madoff are symptomatic of unrepentant capitalism.

  • golly gosh gee wilickers this is so surprising.

  • @JaxKnight420 I'm sure there are a lot of account holders who would like to do it.

  • All criminals let 1 dollar of my companies funds come up missing... Id be in the slammer in a hurry.

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